Expand Your Education with These Courses from
Negotiating Skills: Skills for Sales Success: Part Six.
A Consumer Advocate Approach to Real Estate & Mortgages: Courses 1 & 2.
Accredited Buyer's Representative.
BPOs: The Agent's Role in the Valuation Process.
Bundle 2: CIPS Elective Courses (US Version).

Ask the Expert: Prepping Baby Boomers for Market

Interested in more details on this topic? Click here!

Challenge: Baby Boomers may have unrealistic expectations about the time it takes to close a home purchase.

Solution: Fifteen years ago, the mortgage industry advertised the possibility of loan closing in 10 days or less. Following the housing bubble, the loan process typically requires more documentation and verification than in recent years. In May 2013, the mortgage industry’s average time to close a purchase loan was 44 days, according to the Ellie Mae Origination Insight Report. Real estate professionals should clearly communicate with clients and set realistic expectations about the timeframe in order to plan and carry out the home purchase process as efficiently and smoothly as possible.

Challenge: Baby Boomers may not be aware of new resources and tools available.

Solution: Real estate professionals should help connect Baby Boomer clients with tools and resources to help them stay organized. As technology and social media continues to advance, the steps that go into selling and buying a home have changed. However, Baby Boomers may not necessarily be familiar with the extensive resources available within the real estate and mortgage industries. Real estate professionals can help their clients by introducing them to tools such as the online Home Loan Guide and Home Loan Planner from Bank of America.

Considering the significant numbers of Baby Boomers, and the volume of real estate they control, it is vital that real estate agents examine the challenges that could prove a stumbling block to earning trust. By working with a mortgage lending officer, properly communicating and providing the right tools and resources, assisting Baby Boomers through the new realities of today’s real estate market could help to successfully grow business.

For more information, click here.

Continue Reading 1 2

Interested in more details on this topic? Click here!

Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Copyright© 2016 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>